The Market for elastic bonding adhesive sealant is expected to grow at a CAGR of greater than 5% globally during the forecast period. Elastic adhesives are based on special denatured polymer and have strong rubber-like elasticity with adhesion properties.

The increasing applications of elastic bonding adhesives in the automotive and transportation industry are contributing to the growth and driving the demand. Moreover, the growing demand for high-rise buildings is also expected to drive the market.

On the flip side, the stringent regulations for the production of these adhesives are expected to hinder market growth. Moreover, the unfavorable conditions arising due to the COVID-19 outbreak is also expected to hamper the market growth.

Asia-Pacific is the largest market for these adhesives due to the established industrial production and growth in the construction industry.

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Key Market Trends

Automotive and Transportation to Dominate the Market

– Elastic adhesives and sealants have a range of characteristics and physical properties, such as good cohesion, adhesion, elasticity, high cohesive strength, flexibility, and improved peel strength, the high elastic modulus of the substrate, and resistance against thermal expansion.
– It provides environmental resistance from corrosion, UV light, saltwater, rain, and other weathering conditions, and maintains adhesive chemistry and physical bond. Therefore, it has a wide range of applications.
– The market is quite extensive and includes many applications in the transportation industry, such as aircraft and aerospace, railways, vehicle assembly, marine, windshields, automotive module sealing, etc.
– The global automotive manufacturing sector is growing at a consistent rate since the past ten years, with Asia-Pacific and Europe, witnessing steady growth in the total number of motor vehicles produced.
– However, the trend changed in 2019 with the aforementioned regionswitnessing a decline in automotive production. Factors, such as low costs of skilled labor, abundant availability of raw materials, and regular advances in the manufacturing technologies, are encouraging many automotive OEMs to emphasize on expanding their production facilities in the regions.
– Major car manufacturers, such as Chevrolet, Daimler, Jeep, Audi, Volvo, and Kia, have either set up their automotive manufacturing facilities or are planning to start new facilities in the Asia-Pacific region in the near future. This is expected to increase the demand for elastic bonding adhesives and sealants during the forecast period.

Asia-Pacific Region to Dominate the Market

– Asia-Pacific is expected to be the dominating region in the elastic adhesives market with the steady growth in the new construction projects and established industrial and automotive industry.
– Countries like China, India, Indonesia, Thailand, and Vietnam are the key countries attracting the demand for these adhesives.
– China remains the industrial base in the region with recognized automotive manufacturing. The country produces approximately 50% of the automotive of the total production in the region. Other major automotive producing nations include Japan, India, South Korea, and Thailand.
– Japan and South Korea also possess a well-positioned shipbuilding industry in the region which is also likely to add up to the demand for these adhesives.
– China and India are witnessing investment in the construction sector as demand for commercial and residential building are on the rise. The investment has slowed down due to the sudden outbreak of COVID-19. However, it is expected to gain pace by 2021 again.
– These factors are expected to majorly contribute to the demand for elastic bonding adhesives and sealants during the forecast period.

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Competitive Landscape

The global elastic bonding adhesive sealant market is partially consolidated in nature with a few major players dominating a significant portion of the market. Some of the major companies are Henkel AG & CO. KGaA, Arkema S.A., H.B. Fuller Company, Sika AG, and 3M among others.

1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Increasing Applications in the Automotive and Transportation Industry
4.1.2 Growing Demand for High-Rise Buildings
4.2 Restraints
4.2.1 Unfavorable Conditions Arising Due to COVID-19 Outbreak
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porters Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Degree of Competition

5 MARKET SEGMENTATION

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